Month: July 2018

A data center (Credit: iStock) Investor interest in the data center sector remains strong, and expected future demand for their services means the sector might be strong enough to weather a downturn at the end of the cycle. The sector has seen a handful of major deals this year as firms expand and acquire interests…

Tom Petty and Jerry Perenchio with the homes Sean Rad is swiping right in the Hollywood Hills. The co-founder of the popular dating app Tinder paid $26.5 million to acquire a 10,400-square-foot home, the Wall Street Journal reported. Kurt Rappaport, co-founder of Westside Estate Agency, sold the home off-market. He’d purchased it for about $5…

James McClain (Credit: Yolanda’s Little Black Book, Public Domain Pictures, PxHere, Pixabay) UPDATED July 20, 5:07 pm The controversial real estate blog “Yolanda’s Little Black Book” resurfaced on the L.A. real estate scene Friday, publishing a fresh scoop about a multi-million-dollar Malibu sale, one week after the blogger was unmasked as a former Compass finance…

From left: David Fano, a WeWork space, and Jason Bauer (Credit: WeWork and Voda Bauer) A year after launching a real estate investment fund, WeWork is getting into the brokerage business. On Friday, the coworking company announced that it is piloting WeWork Space Services, which will represent companies and help them find office space outside…

225 West Wacker Drive in Chicago and Brett White (Credit: 225 West Wacker) Cushman & Wakefield plans to raise $750 million through its initial public offering at a valuation of $6 billion, including debt. The global brokerage expects to set its pricing range on Monday and start its roadshow, people familiar with the company’s plans…

Fundrise co-founder Ben Miller. Opportunity Zones pock South Los Angeles A crowdfunding startup is launching a $500 million investment fund to focus on developments in distressed areas that the federal government has made eligible for generous tax break. Washington, D.C.-based Fundrise plans to start its Fundrise Opportunity Fund next week. It wants to raise its…

From left: Todd Huber, John Pallante, Martin Pupil, Mark Ejnes Paragon Commercial Group, a retail development firm based in El Segundo, hired Todd Huber as senior investment manager for California. In this newly created role, Huber will evaluate new retail acquisition opportunities and manage the firm’s existing portfolio. Huber previously led acquisitions and developments at…

Redondo Beach waterfront Park View and Mayor Bill Brand (Credit: Daily Breeze) After a five-year struggle, city officials in Redondo Beach have withdrawn their application to redevelop the city’s waterfront, effectively killing the controversial — and expensive — project. The withdrawal follows a similar move from the city’s private partner on the project, CenterCal Properties.…